WASHINGTON, D.C. — Sen. Al Franken, who sits on the Senate Health Committee, introduced a bill today that would end tax breaks to companies for direct-to-consumer health-products advertising and marketing to health care providers.
Pharmaceutical companies currently receive billions of dollars in tax breaks for product promotion.
“This legislation will remove these benefits so pharmaceutical companies can focus on developing new drugs, not excessive marketing schemes,” Franken said in a statement.
He added that “there’s no reason for drug companies to be getting a boost from taxpayers while Minnesota families are struggling to pay the costs of health care.”
Franken estimates that the federal government could save $3.5 billion a year by nixing these tax breaks.